Understanding the Key Provisions of SECURE 2.0: Automatic Enrollment Requirements
Help your clients navigate the new automatic enrollment requirements for retirement plans under the SECURE 2.0 Act.
Key Points
- New Auto-Enrollment Rules: Educate clients on the SECURE 2.0 requirement for automatic enrollment in newly established 401(k) and 403(b) plans, effective from the 2025 plan year.
- Identifying Pre-Enactment Plans: Assist clients in determining whether their plans are classified as pre-enactment, which affects their compliance obligations under the new rules.
- Implementation Strategies: Provide clients with strategies to effectively implement automatic enrollment features, including setting initial contribution rates and ensuring compliance with qualified default investment alternatives (QDIAs).